Banking and financial services

South Korean-owned Phnom Penh Commercial Bank Plc (PPCBank) announced a first coupon payout to investors in its second bond despite unrest in the Cambodian economy fuelled by the spread of the Covid-19 pandemic. ...

Agriculture and Rural Development Bank of Cambodia (ARDB) expects to receive an additional $30 million from the government for special-purpose loans to keep the Kingdom’s smaller businesses afloat amid the ongoing economic duress of Covid-19, according to the state-owned bank’s director-general Kao Thach. ...

Cambodia continues to face a multitude of challenges as digital payments and solutions graduate from a niche business to a key segment in the Kingdom’s development strategy, according to National Bank of Cambodia (NBC) assistant governor Chea Serey on March 17. ...

During an interview with CoinDesk’s online web show, “Money Re-imagined”, the Director-General and Assistant Governor of the National Bank of Cambodia (NBC) Chea Serey explained how the central bank is working towards financial inclusion by encouraging the opening of formal savings accounts. ...

ACLEDA Bank Plc has proposed a five-year, $200 million blended finance investment from the World Bank Group’s International Finance Corporation (IFC), disclosure documents reveal. ...

According to a new think-piece released by Visa, small businesses have demonstrated their resilience by adapting quickly to the impact of COVID-19. ...

Financial institutions that are members of the Cambodia Microfinance Association (CMA) restructured some $1.397 billion in loans for 289,422 borrowers as of February 28 since the National Bank of Cambodia (NBC) on March 27 issued a circular on loan restructuring during Covid-19, according to CMA. ...

The embassy of Cambodia to the Republic of Korea signed a memorandum of understanding (MoU) with DGB Bank to provide cooperation in promoting investment in Cambodia as well as protection for Cambodians in South Korea. ...

The COVID pandemic is intensifying the Kingdom’s push towards becoming a cashless society as consumers increasingly opt to conduct digital payments instead of physical transactions. ...

From early next month, the special tariffs on imported family vehicles will be reduced by 10 to 25 percent according to engine size, according to an announcement from the General Department of Custom and Excise. ...

Advanced Bank of Asia Limited (ABA Bank) reported a pre-tax profit increase of 19.12 percent to $50.2 million in its quarterly report released yesterday. ...

Cambodia Post Bank Plc achieved another significant milestone on Monday after the General Department of Taxation of Cambodia allowed the financial institution to collect taxes. ...

A desire for increased security and an acute awareness of current health guidelines has generated an uptick in the use of non-cash payments, according to US multinational financial services corp Visa, as measured in its latest Consumer Payments Attitudes survey. ...

Prudential Cambodia Life Insurance (Prudential Cambodia) and PPCBank have announced a joint collaboration, Bancassurance, to serve the financial protection needs of Cambodians. ...

ACLEDA Bank Plc, one of the largest commercial banks in Cambodia, announced that it is boosting and expanding its self-automation post banking services as part of its focus on digitalisation in the Kingdom. ...

According to technology business site Tech In Asia, the once-obscure Buy Now Pay Later (BNPL) trend is getting new legs, which could see the option spreading in an increasingly digital Asia-Pacific. ...

With more cellphones existing in the Kingdom than citizens and one of the youngest populations in the world, Cambodia’s mobile financial industry may be poised to bring the Kingdom’s deficit in financial inclusion to an end. ...

President and Group Managing Director of ACLEDA Bank Plc In Channy has announced that the bank has reserved nearly $600 million for lending to the small and medium enterprises (SMEs) sector in Cambodia in 2021. ...

Consumer credit performance is showing consistent improvement as both loan balances and the number of loan accounts issued are undergoing sustained positive growth, according to a report from the Credit Bureau Cambodia (CBC). ...

CAMBODIA’s financial sector will not face a shortage of cash to lend to local enterprises and accelerate business anytime soon, according to Association of Banks in Cambodia (ABC) president In Channy. ...

Kuala Lumpur-based Apigate Sdn Bhd has successfully rolled out its Storefront solution with Cambodia’s leading mobile telecommunications operator Smart Axiata Co Ltd, Apigate said in a press release on January 27. ...

National Bank of Cambodia (NBC) officially launched its national retail payment system  “Retail Pay” yesterday to support and provide fast payment facilities for trade settlement and fund transfers in the Kingdom. ...

Cambodian women-led fintechs, technology or regulated financial institutions are among the enterprises eligible for the recently-launched Women Enterprise Recovery Fund to promote and expand their businesses, according to the UN Economic and Social Commission for Asia and the Pacific (UNESCAP). ...

A $100 million small and medium enterprise co-financing scheme (SCFS) fund was fully subscribed by mid-October 2020, according to a senior executive of SME Bank of Cambodia. ...